News

Are Pudgy Penguins pushing back?

Published

2 hours ago

January 11, 2025

The NFT market has turned upward despite crypto price weakness, with Bitcoin falling 3% to $94,000 and Ethereum dropping sharply by 9% to $3,200.

Even though the broader crypto market cap has contracted to $3.3 trillion from last week’s $3.5 trillion market cap, the NFT market has turned positive.

According to CryptoSlam data, NFT sales volume has climbed 10.70% to $155.4 million this week. The rise in total sales comes alongside a notable drop in market participants, suggesting larger trades from fewer buyers.

The weekly metrics are as below:

NFT sales volume rose to $155.4 million from $132.7 million last week
NFT buyers fell 81.79% to 122,806
NFT sellers dropped 73.24% to 104,090
Transactions inched up 0.16% to 1,483,044

Blockchain networks show mixed results

Ethereum (ETH) NFT sales grew 13.09% to $61.9 million, though buyer numbers fell 65.62% to 24,836. Wash trading on the network increased 76.73% to $25.1 million.

Bitcoin (BTC) NFTs saw modest growth, with sales up 1.97% to $30.8 million. The network’s buyer count dropped 87.15% to 8,665.

NFT sales spike to $155m, Pudgy Penguins push back with an 82% surge - 1 — Source: Blockchains by NFT Sales Volume (CryptoSlam)

Solana (SOL) moved up with $20.1 million in sales, rising 9.96%. Mythos Chain held fourth place with $12.4 million, up 4.39%. Base entered the top five with $8.4 million, jumping 211.18% in sales.

Pudy Penguins bounce back

Pudgy Penguins enjoyed $9.2 million in sales, up 82.32%. The recovery brought more activity, with transactions up 50.70% and buyers increasing 67.39%.

BRC-20 NFTs took second place with $8.2 million, growing 40.78%. DMarket kept steady in third with $7.2 million, up 8.06%, and maintaining high volume with 282,071 transactions.

NFT sales spike to $155m, Pudgy Penguins push back with an 82% surge - 2 — NFT collection rankings: Data from CryptoSlam

Guild of Guardians Heroes fell 11.17% to $5.1 million, while Azuki dropped to fifth place with $4.0 million, down 56.58%.

Top sales this week included:

SuperRare #37380: $474,710 (474,710 USDC)
CryptoPunks #4757: $453,894 (125 ETH)
SuperRare #37380: $396,000 (108.7469 WETH)
CryptoPunks #3698: $277,876 (82 ETH)
Abstract Being: $222,680 (2.3681 BTC)

The NFT market has found some stability with rising sales volume, even as participation stays limited. Read the last week’s NFT activity here.

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Assets

Billionaires Pour ~$1,777,000,000 Into Three Assets in Major Portfolio Overhaul: Report

Published

15 hours ago

January 11, 2025

admin

Several billionaire money managers have modified their portfolios and poured about $1.8 billion into new assets, according to a new report.

Billionaires Philippe Laffont, Stanley Druckenmiller, Chase Coleman, Stephen Mandel and Larry Robbins are accumulating AI-centered equities, reports The Motley Fool.

The investors have specifically targeted US semiconductor and software giant Broadcom (AVGO), purchasing a total of 1,728,646 shares valued at about $1.47 billion in the third quarter of last year.

The firm’s AI revenue has surged in recent months, powering a 125% rise in the stock over the last year.

The wealthy investors have also purchased roughly 1,749,613 shares of Amazon, worth about $245 million, as the company’s cloud platform Amazon Web Services (AWS) implements generative AI solutions for customers.

Lastly, the billionaires have bought 621,445 shares of Taiwan Semiconductor Manufacturing (TSM), worth about $62 million, betting on the world’s largest chip manufacturer.

The billionaires’ new plays in artificial intelligence come as analysts at PwC forecast the total addressable market for AI will hit $15.7 trillion by 2030, as the groundbreaking technology transforms business and manufacturing worldwide.

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Bitcoin

First Sitting U.S. President to HODL meme coins

Published

16 hours ago

January 11, 2025

admin

GOP leader and Billionaire businessman Donald Trump will be the first sitting U.S. President to hold meme coins.

Magic internet money maybe, but the President has some.

Once sworn in as the 47th President of the United States, Donald Trump would be the only sitting U.S. leader in history with meme coin holdings.

Arkham reported roughly $8 million worth of meme coins in Donald Trump’s crypto wallet. The White House returnee holds $5.5 million of TROG tokens, $1.5 million of a TRUMP meme, 1.3 billion GUA coins valued at almost $400,000, and $167,000 TRUMPIUS.

Donald Trump used to be a crypto skeptic. That changed in 2024 when the Republican President publicly supported Bitcoin (BTC) and pledged to defend the right to own Bitcoin.

The tycoon launched non-fungible tokens on Ethereum’s network, profiting thousands of dollars in Ether (ETH) from NFTs. His wallet held 496.77 ETH, worth about $1.6 million by publishing time.

Many expect and hope Trump’s administration will usher in a clear digital asset regulatory regime. Donald Trump’s nominees like Paul Atkins for SEC chair and appointments such as crypto czar David Sacks suggest the makings of a crypto-focused approach.

Industry leaders also reportedly donated to Trump’s inauguration and lobbied him to sign an executive order within his first 100 days in office. The requested order would create a U.S. Bitcoin reserve.

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Greg Maxwell

Pieter Wuille and Gregory Maxwell Receive The Finney Freedom Prize

Published

23 hours ago

January 10, 2025

admin

The Human Rights Foundation, in collaboration with the Finney family, has awarded Pieter Wuille and Gregory Maxwell the prestigious Finney Freedom Prize for their groundbreaking contributions to Bitcoin usability, scalability, and privacy. The prize recognises their work during the 2012-2016 era, corresponding to Bitcoin’s block height of 210,000 to 420,000.

The Finney Freedom Prize honours individuals who advance the computer as a tool for protecting individual freedoms worldwide, following in the footsteps of Bitcoin pioneer Hal Finney, who was the first recipient of the award.

An independent committee selected Wuille and Maxwell from a shortlist that included notable bitcoin contributors such as Andreas Antonopoulos, Roya Mahboob, and Ross Ulbricht.

As open-source software, Bitcoin relies on voluntary contributors to maintain, review, and improve its codebase. Unlike a traditional company, bitcoin has no central authority, making the work of developers like Wuille and Maxwell critical to its continued success. Both have played pivotal roles in ensuring bitcoin remains robust, secure, and a practical tool for financial freedom.

“Wuille and Maxwell’s efforts have demonstrably made bitcoin a practical human rights tool for millions of people, especially so many who labor under authoritarian regimes and financial repression across the globe,” the Finney Freedom Prize announcement stated.

Their contributions have helped bitcoin become a powerful financial resource for individuals worldwide, particularly those in repressive environments.

The laureates will split a monetary prize of 100,000,000 satoshis (1 bitcoin), and each will receive a Finney Freedom Prize statue designed by Cryptograffiti.

The next Finney Freedom Laureate, covering the 2016-2020 era (Block Height 420,000 to 630,000), will be announced on January 10, 2026.

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